Bridging the gap: How JPMorganChase is helping shape the future workforce through apprenticeships

A version of this story was originally published on CareerWise.

As the world of work evolves to meet the changing needs of the economy, one of the most significant challenges is the gap between the skills workers have and those employers need. JPMorganChase recognizes that addressing this skills gap is crucial not only for workforce development but also for improving the nation’s economic resilience. The company advocates for a promising solution: “earn-and-learn” programs, specifically modern youth apprenticeships, which can help prepare the next generation of workers by combining education with real-world experience.

Youth apprenticeship programs are a key part of JPMorganChase’s approach to inclusive hiring and preparing more people for the jobs of the future.

JPMorganChase supports over 10 internal apprenticeship programs globally, in areas such as operations, finance and technology. In New York, it works with CareerWise New York to offer apprenticeships to high school students, allowing them to gain hands-on work experience and explore careers in software engineering or business operations.

Creating a Diverse and Dynamic Workforce

The New York Careerwise program has built a strong foundation of apprentices, having already hired five cohorts since 2019. Youth apprenticeship programs help create pathways to family-sustaining wages, as well as future career opportunities. Briana Peterson, Program Manager for CareerWise at JPMorganChase, notes, “The positions the apprentices step into provide life-sustaining wages and are option multipliers for their futures.”

 The program provides a structured support system for apprentices, ensuring they are well-equipped throughout their time at JPMorganChase. “All of our apprentices are aligned with a designated coach who is outside of their direct management,” says Peterson. “Our apprentices leave with a better understanding of who they are, the types of careers they want to pursue, and the skills to succeed in them.”

One apprentice who has greatly benefited from this support system is Ebube, a New York City Public Schools student and project coordinator at JPMorganChase. Initially uncertain about the apprenticeship, Ebube shares, “My orientation at JPMC helped me integrate into my team and taught me how to succeed in a professional setting.” Ebube adds. “Before, I never knew how to write proper emails and what my signature should look like. It seems simple, but it is vital to being part of a major organization.”

His journey through the apprenticeship program has also included significant personal development. “Before joining CareerWise and JPMorganChase, I always had trouble with public speaking. I felt very nervous and unprepared,” he explains. With support from his supervisor, he practiced and prepared for presentations, leading to a breakthrough moment. “I remember all that I practiced with my manager, and when it came time for me to present, all the nervousness went away and for the first time I was confidently able to present to a public audience. This experience showed me how much of an impact my apprenticeship had already made on my future, my career, and me as a young man.”

In addition to improving his public speaking, Ebube has gained valuable insights into project management and has shadowed other members of his team to better understand what different team roles do. This has helped him to gain a holistic understanding of the company and the paths he can take in the future. Through rotations offered to Project Management Apprentices after they are a year-and-a-half into their apprenticeship, Ebube will be able to explore different areas of the team he is on, including marketing.

These successes are significant milestones in the apprentices’ development and contribute to closing the skills gap that many companies face. By supporting young employees like Ebube, JPMorganChase can help to mitigate the misalignment between the skills workers possess and that jobs require.

Support for Expanding Apprenticeship Models

In addition to its own business practices, JPMorganChase is leveraging its philanthropic commitments and research to help make it easier for other individuals – including those from underrepresented backgrounds – to access the benefits that apprenticeships offer.

The company is working to expand and scale youth apprenticeship programs, such as through its philanthropic commitment to the Partnership to Advance Youth Apprenticeship (PAYA) initiative, which supports state and city efforts to help high school students accelerate on a pathway to a meaningful career by combining college coursework with on-the-job experience in their chosen field.

JPMorganChase is also supporting policy recommendations that would help create a more modernized workforce development ecosystem that better connects educational institutions, apprenticeship programs and businesses to ensure apprenticeship programs meet the needs of the economy. For example, it is advancing a policy agenda that includes simplifying and streamlining the apprenticeship registration process for employers, which would make it easier for more employers to offer quality apprenticeship experiences that are better connected to education and workforce needs.

By supporting youth apprenticeships, the company enables young individuals to earn while they learn, laying the groundwork for their early professional development and financial stability.

How CareerWise is Supporting Industry-Wide Adoption

CareerWise continues to work with employers across the country like Amazon, Pinnacol, and MasterCard to provide new pipelines of talent while giving the next generation of employees a strong, skills-based foundations. Employers are increasingly recognizing the value of apprenticeships for providing industry-specific training. Initiatives like the partnership between the New York Jobs CEO Council and CUNY colleges to create apprenticeship-based Associate of Applied Science degrees demonstrate this trend. The Business Roundtable’s Apprenticeship Accelerator Corporate Initiative helps employers develop and scale apprenticeship programs to expand opportunities to workers without four-year degrees. Youth apprenticeships are a model that employers can adopt and policymakers can help scale to promote the success of young people, meet labor market demands, and advance inclusive economic growth.